SeaSpine Holdings (SPNE) Receives a Buy from BTIG

By Jason Carr

BTIG analyst Ryan Zimmerman reiterated a Buy rating on SeaSpine Holdings (SPNEResearch Report) on March 28 and set a price target of $20. The company’s shares closed on Friday at $15.08.

Zimmerman wrote:

“We reiterate our Buy rating and $20 PT on SPNE following investor meetings in New York. High level takeaways from meetings noted an encouraging cadence of new product introductions in FY19 and beyond, a growing proportion of committed and exclusive distributors supporting SPNE’s portfolio, access to capital (without the need for additional funds in the next 3 years), achievable guidance, and an inexpensive valuation (absolute and relative). While 1Q is typically a seasonally softer quarter in spine, the outlook for FY19 is encouraging and if 2H18 is indicative of the momentum SPNE is seeing amongst its distributors and customers then a few more quarters of consistent execution should have shares re-rating at an improved multiple. We like SPNE’s set-up in FY19 as all the key pieces are in place for improved and continued momentum.”

According to, Zimmerman is a top 100 analyst with an average return of 41.6% and a 71.6% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.

Currently, the analyst consensus on SeaSpine Holdings is a Strong Buy with an average price target of $20.67.

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The company has a one-year high of $20.75 and a one-year low of $9.75. Currently, SeaSpine Holdings has an average volume of 97.76K.

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SeaSpine Holdings Corp. is a medical technology company, which focuses on design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. It has a comprehensive portfolio of orthobiologics and spinal fusion hardware solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. The company was founded on February 12, 2015 and is headquartered in Carlsbad, CA.